How to Read the News for Binary Options Trading

Hey, have you ever been trading and the market is doing everything just wonderfully and maybe you’re in the middle of the trade, and all of a sudden the market goes crazy price starts moving all over the place, the candles get really big and everything’s just going on and you have no idea what’s happening? Well, what is that and what can you do about it? I’m gonna show you right here. My name is Jason and welcome to the channel

So it’s a very normal occurrence that when you’re trading that sometimes the market just really starts going crazy, and that is actually a result of news. And you really need to know when these news events are gonna happen, so that you’re not caught on the wrong side of the trade. Maybe you got into a a really big trade size for whatever reason and everything’s going really well and you find a really good spot to get in and then because of a news event you end up losing, possibly blowing your account or something and we just want to make sure that you don’t do that. So here’s what you can do about it. Also what’s really cool is that this is something, with our Premium members, we spend a lot of time specifically talking about news events and how to even profit from news events, so you definitely want to make sure you check that out as well. But I’m gonna change my screen here, so you can see my other screen, and this is the best way that you can find out where news events are. You want to go to a place called myfxbook.com and here you want to create a free account. I’m not gonna go through the whole account creation process, you can do that, that’s no problem. But you just create a free account.

And the first thing you want to do when you create your free account is, I’m actually gonna come here to my profile, gonna go down here to the settings and in the settings, oh you’re gonna always come up with it, it’s gonna get that pop up there and you go to the profile and you scroll down to the profile you want where it says time zone and time you wanted to say use my local computer time. That’s gonna be very important because that’s gonna actually save within myfxbook, it’s gonna save it to where it knows what time it is in your time zone then and then whenever it finds a news event anywhere in the world, regardless where you are in the world, it’s gonna tell you what time that is for you gonna be. Very important. So don’t set the time manually, set it to your local computer time and that’s gonna be your first step.

And then, you come up here to economic calendar. And this is gonna show you a lot, all of the news events that are going on, and I actually already have mine set up properly, but I’m gonna show you exactly how to do it, so that you can have it set up on your computer as well. And you can see here that Friday September 15th, there are a few news events going on, like for example there’s a European CPI that happened at 10:00 a.m. my time or with the New York Empire State Manufacturing Index and Michigan consumer sentiment, that happens at 2:30 p.m. my time and 4:00 p.m. my time. And you can also set it to where if you wanted to have 24-hour time or if you wanted to show just a.m and p.m. that’s completely up to you. And I know that on Monday there are no news events that I have to worry about, but on Tuesday September 19th there might be some news events. Well this one at 3:30 a.m. my time that I don’t care about, it’s not gonna make any impact, 9:00 a.m. my time. I’m not trading at 9:00 a.m., but I will be trading at 11:00 a.m., so I know that on Tuesday it’s gonna be really important that at 11:00 a.m., that I am being careful because there is a European CPI news release at that time. So it’s important for me to know that information this is the way you can find that out.

Now you see here in this column right here it says impact and I have it set to where all of these are high, that means this will only show me high-impact news events. You can, when you create your account, it’s not gonna automatically be like that, so I’m gonna show you how to do that. You click on this little settings area, it’s these three lines with the dots with the circles there. You click on that and it shows you this popup screen. And you can see right here it says impact and I have only High clicked. I believe that when you first set up an account you actually have all four of these set up high, medium, low, and no impact. if I come down here to apply, you’re gonna see it has all of these events; medium, none, medium, low, medium and there’s a high impact and I’ll tell you that most of the time a none, a medium, and a low impact that’s not gonna be relevant to your trading. Virtually never and therefore there’s no reason to be looking at this. There’s no reason to see it and have that get in the way. It’s just gonna be a distraction. Maybe there will be an occasional medium-level impact news that might make a difference, but generally, it’s not gonna be anything of concern. So you just come over here and you uncheck the no impact, low, and medium. And then you can hit apply and once again you’ll only have high impact news.

There’s another very important element here and that is down here you can see all of these currencies, these countries that are gonna have news events. Some of them will be important to you and some of them won’t. I only trade pairs that have the Australian dollar, New Zealand dollar, Canadian dollar, US dollar, Swiss frank, the Euro, the Pound, and the Yen. Those are the only currencies that I trade, so I don’t need to have some of these other currency pairs in here. Like it’s not important for me to have the Danish Crone in there, like the Danish Crone. I’m not gonna trade Danish Crone because that’s what’s considered an exotic in the Forex world, and or the currency from Brazil or whatever. I don’t trade those because I don’t trade exotic currency pairs. I trade the majors, the minors, the crosses and that’s it, because I want to make sure there’s a lot of volume in those currencies and so I get the type of movement that I can predict. So I just make sure that any currency that I am not gonna be trading, I make sure that it’s unlicked and I only focus on those currencies that I will be trading.

And then you just simply click on Save and to get rid of that cookie there click on or apply here and now I only have the currencies that I trade. Anything dealing with the Euro or the US dollar the Japanese Yen the pound or whatever, I also only have high-impact news, and every single time I come back to it and make sure that I’m logged into my account it will automatically show that to me. And that is really great. So Tuesday morning, well Monday morning I’ll look here and I’ll say, oh no news today, I don’t have anything to worry about. Tuesday, oh okay great there is news here there’s something to worry about.

Now what’s also very very important to know is that you see here that on Tuesday there are 1, 2, 3, 4 news events going on at 2:30 p.m. my time and you’ll find that there are quite often news events going on at 2:30 my time. I don’t know what time that would be in your time zone of course. But why is that important? Why is that interesting? Because that’s right smack dab in the middle of our Premium session and so we spent a lot of time focusing on news, teaching you how to trade the news, teaching you when you might consider trading the news or when you would actually stay out from trading the news. And so you get some really really advanced news trading in the Premium session and the basic members aren’t allowed in that session, the basic members they of course get really really awesome training we give them all kinds of just just crazy professional level training, but there’s another level that the Premium members get because there are always these news events. And it works really really well with our indicators which by the way for the whole month of September 2023 if you become a Premium member you actually get our indicators for free, which those are $199, so you get them completely free, I mean that’s really pretty cool. So for what $199 you get the Premium membership and you get the Premium indicators, like it’s just really really cool and you get all of this news training. You also, I mean you get like unlimited one-on-one sessions like where I’ll sit there with you or one of our mentors will sit there with you and answer all of your questions, teach you exactly how the strategy works, find out where you’re going wrong if you’re if you’re not getting what you need and you know we just get you all set up.

So anyway, this is how you get your chart or your computer all set up to where you can know exactly what the news events are and what to be watching out for, so you’re not caught in the middle of a crazy trade when also in the market goes really really crazy. So make sure that you do definitely subscribe to the channel, you click like on this because that’s gonna just really help ensure that you get a lot more, just really good quality content and we are really looking forward to seeing you in TheTrading Room. So make sure you join the Premium membership so you can get those indicators and get in, learn about the news events and we will see you in TheTrading Room.